Hey everyone I've been saving up bitcoins over the past few months and I'm wondering if anyone has any recommendations on how to invest them. I'm trying to study up on my options in order to avoid unnecessary losses.

Thank you all in advance, I'm very interested in hearing how you've put your BTC to good use.

Right now there is a 0.49% APY listed for BTC. I know its not much but it should still pay something unless I am confused

APY = Annual Percentage Yield

Annual being the KEYWORD in this case...

Patience is a virtue. (At least that's what I've heard.)

I believe the draw to bitcoinica is the ability to leverage through margin and also - maybe MORE importantly - the ability to offset loss (if you're a miner) via hedging - like farmers do with futures contracts.

We just have to hope bitcoinica doesn't pull an 'MF Global' on us.

Criticism requires specifics capable of stimulating understanding. That's why I decided to be rude and honest.

Bitcoin is a superior medium of exchange [...] The current system is shit, designed to make slaves of people, and its [sic] the responsibility of smart people everywhere to assert an evolution.

Lately I've been taking a % of my mined BTC and using it to buy silver and gold whenever I can find deals at spot price.

My advice would be to take at least a handful of your BTC and hold onto them for the long haul. The nice thing about Bitcoin is that if it ever goes mainstream, virtually every person on this entire forum will be loooooooooaded.

But, to make this happen, spend some BTC on the things you usually buy if you can find them at about the same price. Spending BTC in the Bitcoin economy could be thought of as an indirect investment.

This sounds dumb - but since I'm not dealing with any large sums of coins, I've mostly been investing mine in Magic the Gathering cards. Thanks, ABU Games!

The game is still going strong after around 20 years, and I'm finding a ton of the cards I had ten years ago have practically quintupled in value. Worst case, I've got some shiny pieces of cardboard to play around with that I can sell off for a new PC in a few years.